Guggenheim Downgrades Capital One (COF)
Guggenheim reported on Wednesday that they have downgraded credit card company, Capital One Financial Corp.(COF) .
The firm has lowered their rating on COF to “Neutral,” and has given the company a $59 price target. This price target suggests a 10% increase from the stock’s current price of $53.12.
Analysts have downgraded the company due to recent trends which will not support a multiple expansion.
Capital One shares were mostly flat during premarket trading Wednesday. The stock has increased 8% in the past year.
The Bottom Line
Shares of Capital One Financial Corp.(COF) have a 0.38% yield, based on Tuesday’s closing price of $53.12.
Capital One Financial Corp.(COF) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.3 out of 5 stars.
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